Malaysia's Ekuinas sells 20% stake in Alliance Cosmetics to Navis
Navis Capital Partners has paid MYR61.8 million ($15.3 million) to Malaysian government-backed PE firm Ekuinas for a 20% stake in local cosmetics brand Alliance Cosmetics Group.
Ekuinas first invested in Alliance alongside Navis in 2010; the two firms paid MYR40 million for a combined stake of about 80%, with Ekuinas holding a 25% stake in the acquisition vehicle. The exit gives...
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